This analysis demonstrates how digital finance boosts enterprise innovation ability, highlighting the role of value co-creation mechanisms.
Key Points
To investigate how digital finance influences enterprise innovation ability via value co-creation. The study focuses on companies listed in Shanghai and Shenzhen.
Analyzed A-share listed companies from 2011 to 2023
Examined four value co-creation models related to customers and partners
Conducted heterogeneity analysis based on financial regulation and regional resources
Digital finance significantly enhances enterprise innovation ability
Improvements occur through economic and social value co-creation models
Stronger effects noted in manufacturing and under-regulated environments